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On Nob Hill, hotel ‘for sale’ signs proliferate

Monday, July 11, 2011

imageIn case it escaped your notice no fewer than four Nob Hill hotels are on the market for one reason or other. They are the Fairmont (pictured), the Intercontinental Mark Hopkins, the Huntington and the Stanford Court Renaissance. Underlying theme? Several, but the Stanford Court’s Scott McCoy tells the Examiner the most obvious is that the center of gravity for convention visitors has shifted to South of Market and the Moscone Center.

Add: McCoy says whatever financial viability the once-proud Nob Hill guest palaces have lies in some sort of mix between hospitality and conversion to residences. You know, the kind that blew up at the Fairmont, resulting in A’s owner Lew Wolf et al placing their 50 percent stake on the sales block. Says McCoy:
“The opportunity to reinvent those hotels is over.”

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